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Deep Yellow Ltd.
Summary
| Project: | Nova | |
|---|---|---|
| Deposit: | Nova | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 4/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-4-2019: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Nova deposit at the Nova project. JV with JOGMEC - drilling results incl. 17m @ 122ppm eU3O8 from 6m. Deep Yellow Limited is pleased to advise that Japan Oil, Gas and Meta | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Martin Hirsch (Reptile Uranium Namibia Pty Ltd.) | |
| ABSTRACT: | Deep Yellow Limited is pleased to advise that Japan Oil, Gas and Metals National Corporation (JOGMEC), who are sole funding the Nova Joint Venture (Nova JV) in Namibia, have approved a program and budget of $1.05M over the next 12 months for the period ending 31 March 2020. The Nova JV, covering EPLs 3669 and 3667, is held in the corporate entity Nova Energy (Namibia) Pty Ltd in which Reptile Mineral Resources and Exploration (Pty) Ltd (RMR - wholly owned subsidiary of Deep Yellow) holds 65% (Manager), Nova Energy Africa Pty Ltd (wholly owned subsidiary of Toro Energy Limited, ASX listed) 25% and Sixzone Investments (Pty) Ltd 10%. JOGMEC is currently earning a 39.5% equity interest in the Nova JV to be achieved after $4.5m has been spent by them over a four-year period. Work on the Nova JV is focussing on target definition and drilling to test for both basement related uranium targets (Rössing/Husab style deposits) and palaeochannel/calcrete associated uranium targets (Langer Heinrich style deposits). | |
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